AmEx Q4 Profits

American Express reported fourth-quarter consolidated total revenues net of interest expense rose to $9.1 billion from $8.5 billion a year ago, up 7% (9% when adjusted for foreign currency translations). The revenue increase primarily reflected the previously reported gain of $719 million ($453 million after-tax) on the sale of the company’s investment in Concur Technologies. The increase also reflected a rise in cardholder spending and higher net interest income.

Biometric M-Payments

By 2020, global mobile biometric market revenues will reach $33.3 billion annually. This includes 4.76 billion biometrically enabled smart mobile devices generating $6 billion in biometric sensor revenue, 4 billion biometric app downloads generating $20 billion in annual revenues from direct purchase and software development fees, and 825 billion biometrically secured payment and non-payment transactions generating $6.8 billion in authentication fees.  

Synovus M-Deposit

Synovus Bank recently launched a new Mobile Banking App which offers Mobile Deposit, a service that allows customers to make deposits with their smartphones; Pay People, an on-the-go service that allows mobile customers to send money to individuals via an email address or cell number; and Instant Balances, which gives customers the ability to check account balances without logging into their account.

Intuit Partners Stripe

Intuit is releasing a new integration for marketplaces using Stripe for payment processing. This lets independent for-hire workers automate tax reporting via the new QuickBooks Online Self-Employed product. Intuit and Stripe make keeping track of and paying taxes simple through automation. With this new integration, on-demand marketplaces can give their users the free benefit of having their income data flow securely into QuickBooks Online Self-Employed, so that they always have a clear picture of their tax obligations and can easily track deductions, such as business expenses and mileage. This prevents tax penalties and avoiding having to pay any unneeded interest.